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A contract has been signed for the supply of know-how to the
country’s biggest tyre maker. Pirelli Tyres close to opening a
commercial company in Moscow.

Milan, 30 May 2002 – Pirelli has signed a contract worth
about $10 million with JSG Nizhnekamskshina, the leading Russian
tyre manufacturer that produces an annual ten million tyres. The
contract calls for Pirelli to supply know-how and special equipment
to enable the Russian company to increase its production capacity
of radial car tyres by two million at its Nizhnekamsk factory in
the Russian Republic of Tatarstan. The contract fits in the
framework of an investment project worth around 60 million $ on the
part of Nizhnekamskshina.

Financed primarily by the Tatneft oil group to which JSG
Nizhnekamskshina belongs, under the contract Pirelli will, in
particular, provide technology for the production of new car tyre
sizes and basic engineering for the installation of plant, the
supervision of production start-up, training of personnel and
continuous technical assistance over the years to come.

The contract signed with JSG Nizhnekamskshina transmits a strong
signal of the re-launch of relations and technological co-operation
between Pirelli and the Russian industry, an activity initiated in
the early Sixties that has always seen the Group in the vanguard of
the process of industrial modernisation in the country. The first
agreement was signed in 1961 with Techmashimport for the supply of
know-how and equipment for the construction of a radial tyre plant.
From that point on, initiatives have multiplied in which Pirelli
has been the protagonist in the diffusion of new technology to the
local tyre industry.

The assiduousness of relations between Pirelli and Russia was
further recognised on 1 January 1985, when Pirelli obtained from
the State Committee for Science and Technology accreditation -
granted to very few western companies – that permitted the opening
of the Group’s Moscow Liaison Office.

Today, the signing of the contract with Nizhnekamskshina is a
prelude to a further step forward: Pirelli Tyres will open soon its
first commercial company in Russia.